Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,059 shares of the medical research company’s stock after selling 12,862 shares during the period. Thermo Fisher Scientific comprises 2.6% of Avity Investment Management Inc.’s investment portfolio, making the stock its 19th biggest position. Avity Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $32,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth $27,000. HWG Holdings LP purchased a new position in Thermo Fisher Scientific in the second quarter valued at $50,000. RPg Family Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at $50,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $65,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,150 shares of company stock worth $25,954,465. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price target for the company. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $557.49 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $529.85 and its 200 day simple moving average is $568.13. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The firm has a market capitalization of $213.24 billion, a PE ratio of 34.95, a P/E/G ratio of 3.54 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.69 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.